Job Description

Internal Audit is independent of first and second line teams, providing the necessary independent assurance to the Group’s regulated Boards, Committees and managers on the adequacy and effectiveness of:

• First line internal business processes and controls;
• Second line risk management processes and controls;
• Second line compliance processes and controls; and
• The Group’s and individual firm’s governance structure.

Carried out effectively, Internal Audit supports the Board and Executive Management in:

• Protecting the Group’s assets
• Reducing financial risks
• Improving efficiency of operations
• Increasing financial reliability and integrity
• Ensuring regulatory compliance with laws, rules and guidance
• Maintaining the Group’s reputation

Internal Audit does this by assessing whether all significant risks are identified and appropriately reported by business Management, Risk and Compliance, to the Board and Executive Management; assessing whether they are adequately controlled, and; by challenging Executive Management to improve the effectiveness of governance, risk management and internal controls.

This role will establish a third line of defense, internal audit function within the Group. The Head of Internal Audit will have SMF 5 responsibilities across four regulated businesses, requiring FCA approval. The function will provide confidence to stakeholders through rigorous independent assessment of process and controls, via robust audit methodologies.

Key Responsibilities

Design and carry out internal audits across four regulated firms on a planned rotation basis, analyzing financial and business risk, ensuring the correct controls are in place, identify risk and weaknesses for the business and report findings. Analyzing any occurrences of fraud and reviewing any irregularities in reporting as appropriate.

Their activities include:

• Produce and keep up to date an Internal Audit Charter for the Group.
• Carry out a risk-rated review of the Group’s internal controls, then prepare an annual audit plan.
• Conduct audit reviews of the Group’s activities in accordance with the above plan.
• Conduct ad hoc reviews of the Group’s activities in response to changes in the internal risk environment and/or at the request of the Group Audit Committee (committee to be set up).
• Recommend corrective actions to remedy control breaches and weaknesses.
• Report to the Audit Committee.
• Liaise with external auditors.

Other information:

• Competitive salary with annual salary reviews
• 25 days annual leave plus statutory bank holidays
• 9% non-contributory pension
• Annual discretionary bonus scheme
• Private Healthcare Scheme
• Death in Service at 5 x annual salary
• 35 hour working week
• Training for IOC and other relevant qualifications
• Exam completion bonus £500 (IOC)
• Study leave
• Cycle 2 work scheme
• Eye test reimbursement
• Your birthday off
• Christmas party and paid for social events during the year
• 13 weeks fully paid maternity leave
• 2 weeks fully paid paternity leave
• Perkbox membership - access to more than a hundred rewards, ranging from free food in major UK restaurants, to movie tickets and more.

Required Knowledge, Skills, and Abilities

Understanding of key financial services regulations. Strong analytical skills with ability to process information quickly and assess risks and controls. Excellent communication and interpersonal skills with ability to present complex and sensitive issues to senior management. Comprehensive knowledge of general risks and controls. Qualified Internal Auditor. University degree or equivalent (beneficial). Relevant professional qualifications (beneficial). Internal Audit experience in a regulated financial services firm. Set up an Internal Audit function from scratch. Approved by the FCA as SMF5. Managed a Team. Self-motivated with strong sense of ownership and accountability Ability to work under pressure and achieve results whilst maintaining a professional, friendly and client focused approach.